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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Harry Sharp who wrote (24331)	6/18/1999 8:04:00 AM
From: William Hunt	Read Replies (1) \| Respond to of 74651

Thread ---Microsoft Corp. The Wall Street Journal -- June 18, 1999 Healtheon/WebMD Investors ATLANTA -- Microsoft Corp. will hold a 17.2% stake in Healtheon/WebMD Corp. after the new company is created by a merger later this year, according to the new company's federal filings. Healtheon Corp., Santa Clara, Calif., and WebMD Inc., Atlanta, announced their intention to merge last month. Healtheon/WebMD will provide services and information for doctors and consumers over the Internet. The new company will have its headquarters in Atlanta. New investors include Reader's Digest Association Inc.; Dell USA LP, an investment arm of Dell Computer Corp.; and Softbank America Inc. BEST WISHES BILL

To: Harry Sharp who wrote (24331)	6/18/1999 1:02:00 PM
From: Gerald Walls	Read Replies (3) \| Respond to of 74651

If I'm not mistaken the rule is that, absent instructions to the contrary, all brokers will automatically exercise the option at expiration if it is 3/4 or more in the money. Waterhouse does this and the broker said he thought all houses had a similar rule. If you look closer I bet you'll see the language says something to the effect that they "may, at our discretion and without any obligation to do so, exercise options that are x/y points" in the money. Don't depend on it. If they don't then you'd have no recourse because, as they'd say, they're under no obligation to take action without instructions and you should have exercised them yourself.